Cardano (ADA) failed to close above a large value zone through not enough number of buyers. Traders who were opened long positions in this value zone also wanted to close their positions at breakeven ($1 level), which also caused the price to fall.

The price is squeezing below the global trendline now. Before reaching the $1 level, we expect liquidity collection at $0.746, after which price could go up.

After the liquidity collection, the BIG players will probably take their long positions, and we will possibly do the same.

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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.